Life insurance provider MetLife Australia has released a new report revealing a disconnect between perceptions of cost and value when it comes to insurance and financial advice.
Australia's general insurance industry exhibits stable profitability and capital coverage with no critical short-term risks, said APRA in its updated Corporate Plan for 2019-2023 released last month.
The Australian Actuaries Climate Index shows that autumn 2019 continued the pattern of extreme weather: last autumn ranked as the second most extreme in the number of hot days ever recorded in the three months from March, and the third when ranked against all seasons.
The Australian Senate has approved a motion to set up a select committee to inquire and report on FinTech and RegTech opportunities, barriers, and future trends.
In domestic motor business, claims costs are being driven up by the increasing cost of repairs on new technology, though claim frequency is flat, says Taylor Fry, an analytics and actuarial consulting firm.
Despite the hardening market for commercial property insurance, underwriters are struggling to achieve rate increases at the level required to restore profitability in the short term, says Taylor Fry, an analytics and actuarial consulting firm.
Claims frequency for cyber insurance rose by 29% for FY2019 compared to a year earlier, according to a portfolio analysis conducted by cyber insurance specialist underwriting agency Emergence Insurance.
Financial services conglomerate Suncorp yesterday announced the appointment of Mr Steve Johnston as Group CEO, following a competitive and robust recruitment process which included high-calibre global and local candidates.
About 60% of advice clients believe the removal of life risk commissions would increase underinsurance in Australia, latest research shows.
Aon has appointed former Olympian and current head of sport Nick Green as its new head of sales for its global and corporate client segment. In his new role, he will be based in Aon's Melbourne office and retain his role as national practice leader for sport.